Your marriage is coming to an end. No matter how long it lasted, this portion of your life changed you. You built a life together, no matter the condition of it. Now you are returning to the single life but a little older, maybe some children, and maybe some items. To get there, all the life that you created needs to be systematically divided. For business owners, there is the additional duty to divide up the company. Will you go into your new life with or without a business?

Business Acquisition

There is no “one size fits all” solution to any property division during divorce. What works for one family will not function for another. Each household situation is as unique and different as a thumbprint. However, there are guidelines and stipulations that a judge would follow, should your divorce require litigation. Most of the emphasis is placed on the acquisition of the asset itself. In the case of a business entity, it is more than just who purchased it and at what point in the marriage it was acquired. Consideration is given to:

Dissolving a marriage is a complicated process. With emotions on both sides and an entire life to divide, the finality never can seem to come quickly enough. For some couples, the divorce process can take more than a year and thousands of dollars. However, there are methods available to avoid that worst case scenario. An increasing number of Americans are seeking to divorce through more amicable terms, such as collaborative law and mediation. These alternatives make dividing assets a much more pleasant memory, and there is a higher likelihood of getting what you want.

Property to Discuss

A large number of minute details join to create the life that you and your ex-spouse have together. The process of breaking it apart piece by piece is overwhelming and stressful to most who endure it. It is tough to ascertain where to begin. Many find it useful to have a checklist to complete. Assets you should consider:

Most couples do not intentionally enter a marriage knowingly believing it will result in divorce. Therefore, it stands to reason that your divorce taught you that everything could change from plans and circumstances and even people themselves. Due to this certain phenomenon, it is likely that after a divorce agreement has settled, either through mediation or litigation, that there will need to be a post-judgment modification. Hopefully, the alteration will not be necessary for a decade or more. However, it is possible that a change request may be needed months after the issuance of the decree.

How Soon Can We Make Changes?

During a dissolution of marriage, circumstances and needs are the groundwork for deciding the outcome. If the situation has shifted in any direction, it is imperative that modification is requested as soon as possible to avoid conflict and ensure the ability to comply with court orders. Although a judge will not make changes to decisions regarding asset division, the commonly renegotiated terms are:

Divorce does not only affect the married couple that is splitting; it systematically changes the dynamic of everyone with any relationship with them. From the family members that must adjust to how to maintain communication without stepping on toes to the friends that must now divide their friendship between the two separate entities, the entire situation must be treated delicately. Arguably the most significant relationship to consider is that of the children. Some kids are better equipped to handle the struggle, however, at any age, divorcing parents can be life-altering. Mediation lessens the negative results encountered with divorce.

Effects on Divorce and Children

Countless studies have investigated the effects that divorce has on children. Although it is impossible not to have any lasting mark, the goal is to minimize the negative repercussions. Their little lives rest entirely in your hands, including their emotional and psychological well-being. Studies found the following effects:

Each dissolution of marriage is unique. No two are the same except for the end, where the two are no longer legally married. Some experiences are relatively quick and easy with minor emotional repercussions. Other divorces are extremely lengthy, causing shedding of an innumerable number of tears and expenditure of untold sums of money. The good news here is that the dissolution process can be tailored to suit your needs and circumstances. Together we can determine if mediation is a possibility or if divorce litigation is the only option.

Mediation

There are not many individuals that can drop a few thousand dollars without effect on their bank account status. For those who do not have money to spend unnecessarily, you likely are interested in saving some of your money if the outcome is the same. Therefore, it is illogical to skip straight to a divorce litigation option for divorce without first exploring other possibilities. One such option is mediation. We advise many of our clients first to consider this option for a variety of reasons, not the least of which is saving money. Remember, mediation in this sense does not mean the same thing as marital mediation, in which you are working to save the marriage. Here you are dissolving the union, just through an alternative setting. However, this path does not pan out for every situation. A few situations in which this may be beneficial, are: